Hulu Could Be For Sale

The Wall Street Journal is reporting that Hulu has been approached with an offer to buy the company. Right now it is unclear who the offer is from but CNBC's Julia Boorstin tweets it is not from Google.

Hulu is co-owned by Disney, News Corp. and Comcast's NBC. It streams many shows for free but also offers Hulu Plus for $8 a month. With Hulu Plus, users get access to more TV shows and fewer ads.

Hulu was set to go public late last year but scrapped plans. Chief Executive Jason Kilar said that the company had revenues of $260 million in 2010 and that Hulu is turning a profit. But the site is still struggling to compete with Netflix which has 23 million subscribers.

The future of Hulu has been a messy topic. The venture’s owners — largely media companies Comcast, News Corp., Disney and private-equity firm Providence Equity Partners — haven’t always been on the same page about the company’s future, and how much free media content it should run. Hulu also explored an IPO last year to raise money to buy right to more content.